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Intrinsic value of Forward Air Corporation (FWRD)

Previous Close$91.52
Intrinsic Value
Upside potential
Previous Close
$91.52
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh27.8 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through three segments: Expedited Freight, Intermodal, and Pool Distribution. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. It also offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Intermodal segment provides intermodal container drayage services; and contract, and container freight station warehouse and handling services. The Pool segment offers pool distribution services comprising managing high-frequency handling and distribution of time-sensitive products to various destinations through a network of terminals. Forward Air Corporation was founded in 1981 and is headquartered in Greeneville, Tennessee.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %30.9NaN
Revenue, $1662NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m1503NaN
Operating income, $m159NaN
EBITDA, $m199NaN
Interest expense (income), $mNaN
Earnings before tax, $m144NaN
Tax expense, $m39NaN
Net income, $m105NaN

BALANCE SHEET

Cash and short-term investments, $m37NaN
Total assets, $m1176NaN
Adjusted assets (=assets-cash), $m1139NaN
Average production assets, $m746NaN
Working capital, $m118NaN
Total debt, $m320NaN
Total liabilities, $m582NaN
Total equity, $m594NaN
Debt-to-equity ratio0.539NaN
Adjusted equity ratio0.536NaN

CASH FLOW

Net income, $m105NaN
Depreciation, amort., depletion, $m40NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m120NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-36NaN
Free cash flow, $m157NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m118
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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